Page 42 - NEHA 2020 Annual Report

Notes to the Financial Statements
for the period ended 31 December 2020
• Property at Commons Road, Navan, Co. Meath
• Property at Swords Manor, Swords, Co. Dublin
• Property at An Rian, Termonfeckin Road, Drogheda, Co. Louth
• Property at Termon River, Baltray Road, Drogheda, Co. Louth
• Property at Ashfield Drive, Balbriggan, Co. Dublin
• Property at Doirin Alainn, Ballylinan, Co. Laois
• Property at Downdall’s Cresent, Dundalk, Co. Louth
• Property at Harbour Grove, Point Road, Dundalk, Co. Louth
• Property at Court View, Main Street, Stradbally, Co. Laois
• Property at The Hermitage, Dublin Road, Co. Laois
• Property at Marlton Demesne, Wicklow Town, Co. Wicklow
• Property at Carrig Mhor, Clonmellon, Co Westmeath
• Property at The Park, Lakepoint Park, Mullingar, Co. Westmeath
• Property at The Crescent, Graigavern Lodge, Ballybrittas, Co. Laois
• Property at Willowdale, Dundalk, Co. Louth
• Property at Seabury Lawns, Mornington, Co. Meath.
20. Deferred income 20.1 Description
Deferred income represents government grants. These grants represents loans made to the company from Capital Loan and Subsidy Scheme (CLSS) and Capital Assistance Scheme (CAS). No capital or interest repayments are required to be made on these loans provided the company complies with certain specific requirements set out by the local authorities over the properties for which housing loans have been provided for.
In accordance with the accounting policy, government grants are recognised based on the accruals model. These grants, which are for the purchase of the freehold property, are recognised over the useful life of the freehold property, which is fifty years. There are no unfulfilled conditions or contingencies attaching to these grants.
20.2 Analysis of the movements on government grants
The grants transferred during the year relate to the transfer of a premises to the Peter McVerry Trust and the cancellation of a housing project in Saltown, Co. Louth.
Annual Report 2020 | 42